Howard Capital Management Inc. Sells 131 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Howard Capital Management Inc. reduced its stake in MercadoLibre, Inc. by 13.3%, holding 853 shares valued at approximately $1.66 million as of the latest SEC filing.
• Various large investors are increasing their positions in MercadoLibre, with hedge funds owning 87.62% of the company’s stock.
• Despite mixed analyst ratings, the consensus target price for MercadoLibre is $2,690.29, with a mix of buy and hold ratings reflecting a generally optimistic outlook.

Howard Capital Management Inc. trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 13.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 853 shares of the company's stock after selling 131 shares during the quarter. Howard Capital Management Inc.'s holdings in MercadoLibre were worth $1,664,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Prospect Financial Services LLC grew its stake in shares of MercadoLibre by 41.7% during the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after purchasing an additional 100 shares during the period. Stratos Investment Management LLC bought a new stake in shares of MercadoLibre during the 1st quarter valued at about $203,000. JARISLOWSKY FRASER Ltd grew its stake in shares of MercadoLibre by 43.6% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after purchasing an additional 987 shares during the period. Avant Financial Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at about $316,000. Finally, Blue Sky Capital Consultants Group Inc. bought a new stake in shares of MercadoLibre during the 4th quarter valued at about $2,500,000. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on MELI. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Cantor Fitzgerald cut their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. UBS Group set a $3,000.00 price objective on MercadoLibre in a research report on Monday, June 2nd. Finally, Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $2,707.50.

MercadoLibre Price Performance

NASDAQ MELI traded up $2.03 during trading hours on Friday, reaching $2,375.92. The company's stock had a trading volume of 375,200 shares, compared to its average volume of 256,589. The firm's 50-day moving average price is $2,455.84 and its 200-day moving average price is $2,223.79. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a market capitalization of $120.46 billion, a price-to-earnings ratio of 58.43, a PEG ratio of 1.41 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same period in the previous year, the firm earned $6.78 EPS. The firm's revenue was up 37.0% compared to the same quarter last year. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.